Vail Valley Q3, 2018 Micro Market Report

MICROMARKET REPORT |

Vail Valley • January-September 2018

VAIL VALLEY NEIGHBORHOODS 1.

East Vail

2.

Vail Golf Course & Spraddle Creek

3.

Vail Village

4. Lionshead 5.

West Vail & Cascade

6. Minturn 7. Eagle-Vail

19

8. Avon 17 18

16

14 15

12 13

10

11 9

5

8 7

6

4

3

2

1

9.

Beaver Creek

10.

Mountain Star

11.

Bachelor Gulch

12. Wildridge/Wildwood 13. Arrowhead 14.

Edwards - Singletree

15.

Edwards & Homestead

16.

Edwards - Lake Creek Valley

17.

Cordillera Valley Club

18. Cordillera 19.

Eagle, Eagle Ranch, Brush Creek & Gypsum

Pictured on cover: 62 Beaver Creek Drive, Beaver Creek

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VAIL VALLEY market update The benefits of living in the Vail Valley are endless, including year-round activities, a tight-knit community feel, high-end shopping and dining, and spectacular mountain views. Attracting buyers from around the world, the Vail Valley’s luxury housing market continues to deliver positive results moving into the 4th quarter of 2018.

Demand for real estate in the Vail Valley continues to rise, with decreased

EAGLE COUNTY

average days on market by 11.1% in 2018, compared to January through September of 2017, and increased average price by 11.5% to $1,237,349.

January through September

Total dollar volume sold for all properties also increased by 9.8% in

Sold Listings (All Properties)

January through September of 2018, compared to 2017. For sellers,

2017

2018

% Change

1,010

994

-1.6%

Sold Single Family

361

366

1.4%

now is an ideal time to list your property in the Vail Valley with buyers

Sold Condos/TH/DP

649

628

-3.2%

spending more and inventory lowering.

Average Days on Market

126

112

-11.1%

$1,109,455

$1,237,349

11.5%

94.4%

94.4%

-0.1%

$1,120,549,876

$1,229,924,606

9.8%

Average Price

Highlights for the Vail Valley include a 20% increase in average price of

% Sold Price to List Price

single-family homes in Beaver Creek and a 26.2% increase of highest

Total Dollar Volume Sold

price single-family home sold in Beaver Creek at $13.5 million in 2018.

All Properties

The Town of Vail saw a 19.3% increase in average price for all properties January through September 2018 compared to 2017, and nearby East Vail saw a 28% increase in average price for all properties as well. Vail Golf Course/Spraddle Creek reported extremely notable increases for January through September 2018 compared to 2017 with a 188.7% increase in average price and a 219% increase in highest price for all properties. The highest price for Vail Golf Course/Spraddle Creek January through September 2018 is $18,500,000.

LIV Sotheby’s International Realty represented a significant sale of $23,000,000 of a ski-in/ski-out single-family residence in the Vail Valley. This impressive sale, as well as the noted growth in 2018, serve as a testament to the strength of the Vail Valley real estate market.

livsothebysrealty.com

Based on Information from Vail Board of Realtors®. This representation is based in whole or in part on data supplied by Vail Board of Realtors®. Vail Board of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by Vail Board of Realtors® may not reflect all real estate activity in the market.

MICROMARKET REPORT | Vail Valley JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM

ARROWHEAD January through September

2017

2018

Average Price

$1,542,517

$1,636,354

6.1%

$550

$590

7.3%

142

104

-26.8%

$3,650,000

$4,150,000

13.7%

36

28

-22.2%

95.6%

95.6%

0.0%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

Arrowhead, the western-most village of Beaver Creek, offers skiers quick access to beginner and intermediate terrain on Beaver Creek Mountain.

All Properties

ARROWHEAD January through September Average Price

2017

$2,893,571

12.7%

$533

$539

1.1%

321

144

-55.1%

$3,650,000

$4,150,000

13.7%

8

7

-12.5%

97.4%

95.2%

-2.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$2,568,297

Average Price per Square Foot

Highest Price

2018

Single Family Homes 144 Castle Peak Gate, Arrowhead

ARROWHEAD January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes

2017

2018

% Change

$1,249,438

$1,217,281

-2.6%

$555

$606

9.2%

91

91

0.0%

$2,675,000

$2,500,000

-6.5%

28

21

-25.0%

95.3%

96.6%

1.4%

9.2%

The average price per square foot for condos, townhomes, and duplexes in Arrowhead increased by 9.2% January through September 2018 compared to that of 2017.

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BACHELOR GULCH January through September Average Price

2017

$2,099,000

-51.0%

$942

$869

-7.7%

306

190

-37.9%

$13,400,000

$5,250,000

-60.8%

23

11

-52.2%

95.1%

92.5%

-2.8%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$4,280,326

Average Price per Square Foot

Highest Price

2018

All Properties 2291 Daybreak Ridge Road, Bachelor Gulch

BACHELOR GULCH Charmingly tucked away between Beaver Creek and Arrowhead, Bachelor Gulch offers private mountainside living and access to a five-star luxury resort-hotel, The Ritz-Carlton, Bachelor Gulch.

January through September

2017

Average Price

$9,020,714

$2,200,000

-75.6%

$1,035

$608

-41.3%

347

389

12.1%

$13,400,000

$2,200,000

-83.6%

7

1

-85.7%

96.4%

77.2%

-19.9%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

% Change

Single Family Homes

BACHELOR GULCH January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2017

2018

% Change

$2,206,406

$2,088,900

-5.3%

$901

$895

-0.7%

289

170

-41.2%

$5,480,000

$5,250,000

-4.2%

16

10

-37.5%

93.8%

93.5%

-0.3%

Condos, Townhomes, Duplexes 3243 Daybreak Ridge Road, Bachelor Gulch

MICROMARKET REPORT | Vail Valley livsothebysrealty.com

JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM

BEAVER CREEK January through September Average Price

2017

$2,383,119

10.3%

$790

$766

-3.0%

231

218

-5.6%

$10,700,000

$13,500,000

26.2%

62

87

40.3%

95.6%

94.3%

-1.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$2,159,894

Average Price per Square Foot

Highest Price

2018

Beaver Creek ski area is located on National Forest System lands. Prior to construction, all lifts, trails, and facilities must be approved by the Forest Service.

All Properties

BEAVER CREEK January through September

2017

Average Price

$4,854,167

$5,825,933

20.0%

$686

$740

7.9%

235

345

46.8%

$10,700,000

$13,500,000

26.2%

6

15

150.0%

95.0%

93.8%

-1.3%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

% Change

26.2%

January through September 2018, the highest sold price for single family homes in Beaver Creek increased by 26.2% compared to that of 2017.

Single Family Homes

BEAVER CREEK January through September

2017

Average Price

$1,871,221

$1,665,866

-11.0%

$802

$771

-3.9%

231

191

-17.3%

$6,200,000

$7,500,000

21.0%

56

72

28.6%

95.7%

94.9%

-0.9%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

% Change

Condos, Townhomes, Duplexes 136 Holden Road, Beaver Creek

coloradomicroreports.com

6.9%

The average price per square foot in Cordillera and Cordillera Valley Club increased by 6.9% January through September 2018 compared to that of 2017.

CORDILLERA/VALLEY CLUB January through September

2017

2018

Average Price

$1,707,485

$1,765,983

3.4%

$332

$355

6.9%

350

228

-34.9%

$3,200,000

$3,475,000

8.6%

34

30

-11.8%

93.3%

95.1%

2.0%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

All Properties

CORDILLERA January through September

2017

2018

Average Price

$1,659,733

$1,664,180

0.3%

$319

$340

6.6%

376

223

-40.7%

$3,200,000

$3,475,000

8.6%

30

25

-16.7%

92.6%

95.4%

3.0%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

All Properties 45 Graham Road, Cordillera

CORDILLERA VALLEY CLUB January through September Average Price

The Club at Cordillera offers its members an unparalleled lifestyle experience, with access to world-class golfing, exquisite dining, and lively events.

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2017

2018

% Change

$2,065,625

$2,275,000

10.1%

$431

$430

-0.2%

152

251

65.1%

$2,500,000

$3,000,000

20.0%

4

5

25.0%

92.8%

93.3%

0.5%

All Properties

MICROMARKET REPORT | Vail Valley livsothebysrealty.com

JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM

EDWARDS & HOMESTEAD January through September Average Price

2017

$632,862

-6.9%

$374

$351

-6.1%

72

63

-12.5%

$2,598,500

$1,895,000

-27.1%

86

73

-15.1%

97.5%

95.7%

-1.8%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$679,711

Average Price per Square Foot

Highest Price

2018

All Properties 477 Pilgrim Drive, Edwards

EDWARDS - LAKE CREEK VALLEY January through September

2017

Average Price

$1,813,571

$1,200,000

-33.8%

$424

$275

-35.1%

262

137

-47.7%

$3,650,000

$1,200,000

-67.1%

7

1

-85.7%

89.4%

89.6%

0.1%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

% Change

Positioned almost at the center of the Eagle River Valley, Edwards benefits from geography that lends well to rolling green golf courses – and receives less snow than the high peaks of the nearby ski mountains for a much more mild and sunny climate.

All Properties

EDWARDS - SINGLETREE January through September

2017

Average Price

$963,208

$1,068,508

10.9%

$364

$383

5.2%

122

99

-18.9%

$2,175,000

$2,050,000

-5.7%

36

40

11.1%

95.2%

95.7%

0.6%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

% Change

All Properties 1562 Red Draw, Edwards

coloradomicroreports.com

19.3%

January through September 2018, the average price for the Town of Vail increased by 19.3% compared to that of 2017.

TOWN OF VAIL January through September Average Price

2017

$2,323,497

19.3%

$866

$962

11.1%

168

158

-6.0%

$23,000,000

$23,000,000

0.0%

200

219

9.5%

92.6%

92.9%

0.3%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$1,948,339

Average Price per Square Foot

Highest Price

2018

All Properties

EAST VAIL January through September Average Price

2017

$1,093,787

28.0%

$529

$585

10.6%

73

67

-8.2%

$3,750,000

$4,420,000

17.9%

57

60

5.3%

94.6%

93.7%

-1.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$854,571

Average Price per Square Foot

Highest Price

2018

All Properties 4852 Meadow Lane, East Vail

WEST VAIL & CASCADE Vail sits at an elevation of 8,150 feet, receives over 335 inches of annual snowfall, and is home to one of the leading ski resorts in North America, Vail Ski Resort.

January through September

2017

2018

Average Price

$1,735,876

$1,452,755

-16.3%

$674

$552

-18.1%

131

112

-14.5%

$5,912,000

$3,950,000

-33.2%

37

40

8.1%

94.2%

95.1%

1.0%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

All Properties

MICROMARKET REPORT | Vail Valley livsothebysrealty.com

JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM

VAIL VILLAGE January through September Average Price Average Price per Square Foot

2017

$4,311,625

-2.7%

$1,832

$1,736

-5.2%

233

326

39.9%

$23,000,000

$23,000,000

0.0%

26

38

46.2%

93.1%

93.1%

-0.1%

Properties Sold % Sold Price to List Price

% Change

$4,433,385

Average Days on Market Highest Price

2018

46.2%

The number of propeties sold in Vail Village increased by 46.2% January through September 2018 compared to that of 2017.

All Properties

LIONSHEAD January through September Average Price Average Price per Square Foot

2017

$2,924,512

6.9%

$1,364

$1,402

2.8%

471

225

-52.2%

$12,425,000

$10,500,000

-15.5%

28

42

50.0%

90.1%

93.2%

3.5%

Properties Sold % Sold Price to List Price

% Change

$2,735,304

Average Days on Market Highest Price

2018

All Properties 728 West Lionshead Circle #625, Lionshead

VAIL GOLF COURSE/SPRADDLE CREEK January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2017

2018

% Change

$2,288,700

$6,607,083

188.7%

$859

$1,165

35.6%

156

278

78.2%

$5,800,000

$18,500,000

219.0%

10

9

-10.0%

93.0%

91.5%

-1.7%

One of Vail’s most prestigious gated communities, Spraddle Creek Estates offers unparalleled views of Vail Mountain and is bordered by National Forest.

All Properties

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ALL OTHER VAIL AREAS January through September

2017

2018

Average Price

$1,475,863

$1,378,886

-6.6%

$559

$597

6.8%

90

53

-41.1%

$6,600,000

$5,332,500

-19.2%

42

35

-16.7%

89.7%

93.8%

4.6%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

Booth Creek, Highland Meadows, Potato Ranch, Sandstone Ridge, Valley Ridge at Vail 1109 Vail Valley Drive, Vail

4.9%

January through September 2018, the average price per square foot in Eagle-Vail, Avon, and Wildridge increased by 4.9% compared to that of 2017.

EAGLE-VAIL, AVON, & WILDRIDGE January through September Average Price

2017

$650,214

7.3%

$405

$425

4.9%

89

74

-16.9%

$4,306,000

$2,195,000

-49.0%

181

176

-2.8%

96.0%

96.2%

0.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$605,784

Average Price per Square Foot

Highest Price

2018

All Properties

EAGLE & SURROUNDING AREAS January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2017

2018

% Change

$481,201

$538,102

11.8%

$222

$241

8.6%

68

71

4.4%

$1,400,000

$2,400,000

71.4%

247

236

-4.5%

97.7%

97.3%

-0.4%

Eagle, Eagle Ranch, Brush Creek, Gypsum, & Cotton Ranch/Chatfield 101 East Foxglove Lane, Eagle

MICROMARKET REPORT | Vail Valley livsothebysrealty.com

JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM

MINTURN January through September Average Price

2017

$659,846

-6.7%

$330

$354

7.3%

110

117

6.4%

$1,575,000

$912,500

-42.1%

13

12

-7.7%

93.6%

97.0%

3.6%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$707,547

Average Price per Square Foot

Highest Price

2018

Minturn is ideally situated in between the resort communities of Vail and Beaver Creek, and is surrounded on three sides by the White River National Forest.

All Properties

MOUNTAIN STAR January through September

2017

2018

% Change

Average Price

-

$5,425,000

-

Average Price per Square Foot

-

$620

-

Average Days on Market

-

738

-

Highest Price

-

$5,425,000

-

No Sales

1

-

-

91.2%

-

Properties Sold % Sold Price to List Price All Properties

56 Rose Crown, Mountain Star

WILDRIDGE/WILDWOOD January through September

2017

Average Price

$1,024,710

$929,122

-9.3%

$330

$319

-3.3%

117

101

-13.7%

$4,306,000

$1,750,000

-59.4%

25

39

56.0%

95.9%

96.1%

0.2%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

% Change

56.0%

The number of properties sold in Wildridge/ Wildwood increased by 56.0% January through September 2018 compared to that of 2017.

All Properties

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The life you love.

livsothebysrealty.com | coloradomicroreports.com Based on Information from Vail Board of Realtors速. This representation is based in whole or in part on data supplied by Vail Board of Realtors速.

Vail Board of Realtors速 does not guarantee nor is in any way responsible for its accuracy. Data maintained by Vail Board of Realtors速 may not reflect all real estate activity in the market.